S.Korea's LG Energy Solution aims to raise about $1 billion in green bonds - sources
Reuters
Published Aug 28, 2023 11:16PM ET
Updated Aug 29, 2023 12:35AM ET
By Scott Murdoch and Hyunsu Yim
Sydney (Reuters) -South Korea's LG Energy Solution is aiming to raise about $1 billion from the sale of two, dollar-denominated green bonds, according to two sources with direct knowledge of the matter.
The sources could not be identified as the information was not yet made public.
"No specifics have been decided regarding the scale," an LG Energy Solution official said in a statement.
The company has mandated investment banks to work on a potential dollar-denominated green bond deal, according to a term sheet seen by Reuters.
Bank of America, Citigroup (NYSE:C), Morgan Stanley, Standard Chartered (OTC:SCBFF) and the Korea Development Bank are working on the transaction.
"A final decision on specifics including whether to issue corporate bonds is set to be made after closely examining the market situation with the five joint lead managers," a firm's official said in an earlier statement to Reuters.
The term sheet said the bonds could be issued in three- and five-year tenors, and investor meetings on the deal will begin on Wednesday.
LG Chem, LG Energy Solution's parent company, raised $2 billion in five- and seven-year exchangeable bonds in July. Those bonds will be exchangeable into LG Energy Solution common shares.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.